HomeMy WebLinkAboutR-90-05212
J"90-455
`i/12/90
RESOLUTION NO. 9 0 - 521
A RESOLUTION, WITH ATTACHMENT, APPROVING THE
ATTACHED BOND COUNSEL SLIDING -SCALE FEE
SCHEDULE FOR LAW FIRMS SERVING AS PRIMARY
BOND COUNSEL TO THE CITY FOR A PERIOD OF TWO
(2) YEARS FROM THE EFFECTIVE DATE HEREOF AND
WHERE BOND COUNSEL IS REQUESTED TO PERFORM
SERVICES NOT DIRECTLY RELATED TO NEW BOND
ISSUES, COMPENSATION WILL BE DETERMINED BY
THE CITY ATTORNEY, OR DESIGNEE, AND THE CITY
FINANCE DIRECTOR OR DESIGNEE, ON A CASE BY
CASE BASIS, SUBJECT TO CITY ATTORNEY
APPROVAL; FURTHER, AUTHORIZING AN ADDITIONAL
FEE NOT TO EXCEED 10% OF SAID FEE SCHEDULE
WHERE A PARTICULAR BOND ISSUE IS DETERMINED
BY THE CITY COMMISSION TO BE ESPECIALLY
COMPLEX AND INVOLVED AND UPON THE POSITIVE
RECOMMENDATION OF THE CITY ATTORNEY AND THE
FINANCE DIRECTOR OR THEIR DESIGNEES.
WHEREAS, the City Commission has previously ranked the
following law firms to serve as primary bond counsel for the City
of Miami for a period of two (2) years commencing on the
effective date hereof: Barnes, Darby & McGhee, Jointly with
Matzner, Ziskind, Kosnitzky & Jaffee; Fine, Jacobson, Schwartz,
Nash, Block & England; Holland & Knight; Greenberg, Traurig,
Hoffman, Lipoff, Rosen & Quental; and
WHEREAS, the City Attorney has developed a sliding -scale fee
schedule for the payment of legal fees for primary bond counsel
which fee schedule represents a firm guideline relative to the
payment of counsel fees; and
WHEREAS, the sliding fee schedule represents a fair,
competitive and reasonable attorney's fee for primary bond
counsel and is further representative of the fee customarily
charged in the South Florida area for similar legal services;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. Notwithstanding any prior City resolutions to
the contrary, primary bond counsel for the City shall be paid for
ATTACHMENTS
� CONTAINED
16
[IN
their legal services in accordance with the attached sliding -
scale fee schedule.
Section 2. Primary bond counsel shall be allowed to request
y
an amount not in excess of ten percent (10%) over primary bond
counsel's fee as set forth in the attached schedule only in the
event that a particular bond issue or reissue proves to be
especially complex, novel and difficult by the standards
applicable to an attorney specializing in public finance law.
however, in such event, primary bond counsel shall be required to
obtain City Commission approval by motion or resolution without
which the City shall not be liable for payment of such additional
fee.
Section 3. In the event primary bond counsel is requested
to perform legal services not directly related to new bond
issues, the attached sliding fee schedule will not be applicable
and compensation for such legal services will be determined
d h C't Fi D' t
jointly by the City Attorney an L. e y nance irec or, or
their designees, on a case by case basis, subject to City
Commission approval.
Section 4. In the event primary bond counsel claims an
additional fee in accordance with Section 2 of this Resolution,
bond counsel must demonstrate to the satisfaction of the Finance
Director, or designee, and the City Attorney, or designee, that
the legal services for a particular bond issue have been
particularly novel and difficult for the skill requisite of an
attorney specializing in public financing law and additionally
that the time and labor required of primary bond counsel
significantly exceeded normal expectations and projections.
Section 5. Upon adoption of this Resolution, appropriate
City of Miami department directors, their personnel,
underwriters, bond brokers and law firms serving as primary
counsel for the City of Miami are hereby requested to note that
unless otherwise modified by the City Commission, the attached
sliding -scale fee schedule for bond counsel shall govern the
payment of bond counsel legal fees for a period of 2 years
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